$OMNI has broken out with impulsive move | Flag Formation in process before next impulsive move
CryptoKraze here
Possibility on 1 hour Chart
If you look at 1 hour chart, you will see $OMNI has made a big impulsive move and now it has formed a bullish flag. This is very common pattern in crypto currencies, whenever a coin breaks with big impulsive move, it pulls back and wait for some time before making next impulsive move. If we look at RSI, it has gone above 70 level in first impulsive move and has to dip to 50 level now, so we have a pull back done and next impulsive move is ready. If we look at bollinger bands, the price has touched upper bands and now it will reach median line and then break above.
- I have a buy entry at 0.00580000 with my profit target will be around 0.00750000 or above.
- Stop loss just below the entry area is must for trading if you don't know the Averaging Technique in Crypto Trading.
Crypto Trading is risky business and you can loss partial or full amount of money. Trade at your own risk with that money only you can afford to lose. Bitcoin unexpected move will make this analysis void.
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I believe it is hard to rely on such impulses these days. Not before BTC situation is cleared. Most of them end up like pump and dumps and does not comply with Elliot waves. I hope these work out for you.
posting a very steady
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Being prudent might be a key for not losing more than you can afford but getting the info on crypto currency on the Steem posts, articles and reports support to avoid crucial risks